MORE than 500 pre-owned homes were sold in Shenzhen between Feb. 23 and March 1, almost triple the number in the same period of last year, according to statistics by Zhonglian Real Estate.
The average price of the pre-owned homes sold last week was 29,471 yuan (US$4,715.36) per square meter, up 4.5 percent from the previous week. Half of the homes sold were priced between 2 and 3 million yuan.
Some homebuyers who hoped for lower prices after the Spring Festival were left disappointed. “I thought the property prices would fall after the implementation of the new unified real estate registration system started Sunday,” said a woman surnamed Chen who planned to buy an apartment in Shixia Community in Futian. The apartment she planned to buy was priced at 3 million yuan in November, but when she checked again last week the price was raised by 100,000 yuan.